What to Watch – Global Market Update (8/25/14)
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Transcript of What to Watch – Global Market Update (8/25/14)
Charts to WatchGlobal Market Update
August 25, 2014
Global Clients…Global Portfolios
disclosure: The opinions expressed in this Weekly Chart Book report are those of the author. The materials and commentary are strictly informational and should be used for research use only. This bulletin is not intended to provide investing or other advice or guidance with respect to the matters addressed in the bulletin. All relevant facts, including individual circumstances, need to be considered by the reader to arrive at investment conclusions that comply with matters addressed in this bulletin. Charts and information used in this report are sourced from Bloomberg.
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Accuvest Economic (PMI) Heat MapCountry / Region Category / Sector Jul‐2014 3 Month Chg 6 Month Chg Country / Region Category / Sector Jul‐2014 3 Month Chg 6 Month ChgAustria Manufacturing 50.9 ‐0.5 ‐3.2 Japan Composite 50.2 3.9 ‐3.9Brazil Composite 49.3 ‐0.6 ‐0.6 Japan Manufacturing 50.5 1.1 ‐6.1Brazil Manufacturing 49.1 ‐0.2 ‐1.7 Japan Services 50.4 4.0 ‐0.8Brazil Services 50.2 ‐0.2 0.6 Mexico Manufacturing 51.5 ‐0.3 ‐2.5Canada Manufacturing 54.3 1.4 2.6 Netherlands Manufacturing 53.5 0.1 ‐1.3China Composite 51.6 2.1 0.8 Poland Manufacturing 49.4 ‐2.6 ‐6.0China Manufacturing 51.7 3.6 2.2 Russia Composite 51.3 3.7 1.7China Services 50.0 ‐1.4 ‐0.7 Russia Manufacturing 51.0 2.5 3.0France Composite 49.4 ‐1.2 0.5 South Africa Whole Economy 46.4 ‐3.0 ‐3.9France Manufacturing 47.8 ‐3.4 ‐1.5 South Korea Manufacturing 49.3 ‐0.9 ‐1.6France Retail 45.6 ‐4.7 ‐4.1 Spain Composite 55.7 ‐0.6 0.9France Services 50.4 0.0 1.5 Spain Manufacturing 53.9 1.2 1.7France Construction 39.5 1.9 ‐6.8 Spain Services 56.2 ‐0.3 1.3Germany Composite 55.7 ‐0.4 0.2 Taiwan Manufacturing 55.8 3.5 0.3Germany Manufacturing 52.4 ‐1.7 ‐4.1 Turkey Manufacturing 48.5 ‐2.6 ‐4.2Germany Retail 52.1 ‐1.0 ‐2.5 United Kingdom Composite 58.8 ‐0.3 0.3Germany Services 56.7 2.0 3.6 United Kingdom Manufacturing 55.8 0.4 2.1Germany Construction 48.2 ‐1.5 ‐4.3 United Kingdom Services 59.1 0.4 0.8India Composite 53.0 3.5 3.4 United Kingdom Construction 62.4 1.6 ‐2.2India Manufacturing 53.0 1.7 1.6 United States Manufacturing 55.8 0.4 2.1India Services 52.2 3.7 3.9 United States Services 60.8 5.8 4.1Indonesia Manufacturing 52.7 1.6 1.7 United States Composite 60.6 5.0 4.4Italy Composite 53.1 0.5 1.8 World Composite 55.5 2.7 1.5Italy Manufacturing 51.9 ‐2.1 ‐1.2 World Manufacturing 52.5 0.6 ‐0.5Italy Retail 43.4 ‐6.1 ‐1.8 World Services 56.0 3.3 2.2Italy Services 52.8 1.7 3.4Italy Construction 41.5 ‐2.0 0.5
Financial Conditions
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Developed Markets – Year to Date
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Emerging Markets – Year to Date
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The VIX Index (S&P 500 Implied Volatility)
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Global Financial Stress Index (Higher Level = Higher Stress)
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S&P 500 – This Week
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10 Year UST Yields – This Week
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Gold Price – This Week
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S&P 500 Sectors – This Week
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Global Regions – This Week
Fixed Income & Credit
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US Yield Curve (Current vs. 1 Month & 12 Months Ago)
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UST Curve vs. US Investment Grade Curve
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U.S. Treasury 2 Year Yield
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U.S. Treasury 10 Year Yield
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U.S. Treasury 30 Year Yield
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Fed’s 5 Year Forward Breakeven (Inflation Expectations)
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Investment Grade Bond Prices
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Investment Grade Credit Spread (BBB – 10 Yr. UST Yield)
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High Yield Bond Prices
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High Yield Credit Spreads (HY – 10 Yr. UST Yield)
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Emerging Market Debt (USD Denominated)
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Emerging Market Bond Spreads
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Relative Bond Spreads
Global Equities
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S&P 500 Earnings – Q2 2014
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MSCI All Country World Index
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S&P 500 Index
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MSCI EAFE (Europe, Australia, Far East) Index
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MSCI Emerging Markets Index
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SPX vs. EAFE vs. EM (YTD)
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Trend Analysis by Sector (S&P500)
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Sector Performance by Region (YTD)
The Economy
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Last week’s Economic Calendar
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Next week’s Economic Calendar
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U.S. Leading Economic Index (YoY % Change)
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U.S. Economic Watch – Leading Economic Indicators
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U.S. Economic Watch – Leading Economic Indicators
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U.S. Economic Watch – Housing Market
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U.S. Economic Watch – Housing Market
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NFIB Small Business Actual Capital Expenditures
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Business 6 Month Outlook for CAPEX
Currencies & Commodities
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World Currencies vs. U.S. Dollar (6 Month Spot Returns)
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World Currencies vs. U.S. Dollar (Spot Forecast: Q4 2014)
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US Dollar $
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Euro €
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Japanese Yen ¥
54
British Pound £
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Global Commodity Prices
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Continuous Commodity Index – 5 Years
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Gold Prices – 5 Years
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Crude Oil Prices – 5 Years